If they spent the $50,000 on equipment why would they owe so much tax?  And, why didn't you do a late S Corp election?  Also, I routinely see attorneys screw up entity formations.  No advice to the client re S Corp elections, set up husband and wife LLC's in community property states to file on Form 1065, etc.  And, I see them charge outrageous fees... up to $3500.  It's a boilerplate form.  Unless the client is in a business that makes it likely they will need legal counsel or defense often, Legalzoom, Incfile, etc., are much better options, with the recommendation that they send the charter to us immediately and let us do the S Corp election, SS-4, etc.

But, we digress.  Has Intuit said anything about the CTA filing requirement?